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Newbuilding Market Draws More Investment

More newbuilding ordering activity was notable this past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “a positive week for the newbuilding market took place, with the LNG sector seemingly being the main driver right now and most attractive option for placing of a new order. This does not come as a surprise, taking into consideration the promising market perspective of the LNG sector both on the short-term or long-term. An other interesting highlight is that we observe for yet another week some slight signs of activity in the dry bulk sector after a significant period of absence which probably indicates some slight positive shift emerging in the market. Given the dominance of the Chinese shipbuilders, the easing of Covid-19 restrictions in China could help fuel some increased activity over the coming months in this sector. On the tanker front, we still see a lack of new orders coming to light, with buying interest seemingly still focused to a great degree on the secondhand market and slightly more vintage units. Finally, it seems that during the last couple weeks or so the newbuilding market experienced a slight rebound in terms of containership orders with a fair number of fresh units being placed for yet another week”, Allied said.

Source: Allied

In a separate note, shipbroker Clarkson Platou Hellas added that “in the gas carrier market, Hudong Zhonghua announced orders for three firm 174k CBM LNG Carriers for MOL and CLNG (JV), linked to the Qatar Energy project. The vessels are expected to deliver in 2027. Samsung announced two orders of 174k CBM LNG Carriers for an unknown owner, also linked to the Qatar Gas Project, with the vessels both set to deliver within 1Q 2026. DSME announced an order for a 174k CBM LNG Carrier for an unknown owner, reported to be Clients of Maran, set to deliver in 4Q 2026. DSME also announced another order for a firm 174k CBM LNG Carrier for an unknown owner understood to be MOL, with the vessel slated for delivery in 4Q 2026. Clients of Evalend declared two optional 88k CBM VLGC’s at Hyundai HI, with the vessels set to deliver in May 2025 and February 2026 respectively. In tankers, CMJL Yangzhou announced taking orders for two firm 18k dwt Chemical Tankers for Furebear.

Source: Clarkson Platou Hellas

The vessels will be equipped with LNG dual fuel propulsion and Ice Class 1A and are set to deliver in June and August 2025 respectively. In containers this week, CMA CGM ordered four firm 24,000 TEU post panamax containerships at Hundong Zhonghua. The vessels will be equipped with LNG dual fuel propulsion and are set to deliver in 2025 and 2026. In Car Carriers, Fujian Mawei SB announced contracting two firm 7,500 CEU PCTC’s for Sallum lines. The vessels are LNG dual fuel and are expected to deliver within 2025”, the shipbroker concluded.

LNG Tanker leaving Asian liquefaction plant to deliver natural gas to consumers.

Meanwhile, in the SnP market, Allied commented this week that “on the dry bulk side, SnP market has seemingly failed to sustain any form of stability in terms of activity taking place, for some time now. For the past week, the number of transactions coming to light appeared relatively limited, with appetite across interested parties seemingly prone to constant fluctuations. Moreover to this, as we continue seeing overall sentiment (especially in terms of earnings) being in a rather problematic state, we can hardly argue, what sort of SnP market regime we can expect, even on a short-term basis. On the tanker side, things resumed on a relatively slower pace for yet another week, given the mediocre number of units changing hands during the same time frame. As we have mentioned previously, this can be hardly considered as an alarming trend, given the general strong sentiment surrounding this sector for some time now. Given this, we may well anticipate overall activity returning on a more fervent tone in the near term”, the shipbroker concluded.

Source: Allied S&P

In a separate note, shipbroker Banchero Costa added that “in the PostPanamax size the Japanese built CMB VAN MIEGHEM 95,000 dwt 2011 Imabari (BWTS fitted) was reported sold to Swiss buyers for $21mln. 2 x Kamsarmax changed owners, OCEAN ROSEMARY 82,000 dwt 2013 Dalian (BWTS fitted) which was reported sold around $21mln and KEY LIGHT 82,000 dwt 2013 Sanoyas (BWTS fitted) which was reported sold to Japanese buyers for $23mln. The Chinese built Ultramax CARO PADRE 63,000 dwt 2012 Yangzhou Dayang was reported sold at $21mln and in the Supramax segment, the BULK CARINA 58,000 dwt 2016 Tsunesihi Cebu was rumoured to Greek buyers at $22mln and the older WORLDERA-6 52,000 dwt 2005 Tsuneishi Cebu was reported sold to Chinese interests at $12.3mln. The Handysize TRUDY 30,000 dwt 2009 Jiangsu Eastern (BWTS fitted) was reported sold at $12.5mln. Another busy week in the tanker segment. Bahri added 2 modern, scrubber fitted, VLCC to his fleet: ELANDRA DENALI 300,000 dwt 2020 Hyundai (BWTS fitted) and ELANDRA ELBRUS 300,000 dwt, 2020 Hyundai (BWTS fitted) were bought for a price of $112mln each.

Source: Banchero Costa

The Suezmax scrubber fitted RIDGEBURY NICHOLAS A 159,000 dwt 2007 Universal was reported sold at $34mln. In the Aframax segment BEKS SWAN 109,000 dwt 2009 SWS was reported sold to undisclosed buyers at $36mln and the SIFIS 105,000 dwt 2007 Tsuneishi (BWTS fitted) was reported sold arnd $32mln with SS due. In the LR1 segment ORTOLAN COCO 75,000 dwt 2008 Brodosplit was sold to Greek buyers at $20.5mln and NORDIC TRISTAN 74,000 dwt 2007 New Times (BWTS fitted) changed hands at $21mln. On MRs, ERAWAN 10 45,000 dwt 2003 Iwagi was sold at a reported $12mln while the sisters PSS VITALITY 37,000 dwt 2002 Hyundai and PSS ENERGY built 2001 were sold enbloc at $25mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

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